Showing 1 - 10 of 466
Central banks unexpectedly tightening policy rates often observe the exchange value of their currency depreciate, rather than appreciate as predicted by standard models. We document this for Fed and ECB policy days using eventstudies and ask whether an information effect, where the public...
Persistent link: https://www.econbiz.de/10012822502
This paper investigates the PPP and UIP conditions by taking into account possible nonlinearities as well as the role of Taylor rule deviations under alternative monetary policy frameworks. The analysis is conducted using monthly data from January 1993 to December 2020 for five...
Persistent link: https://www.econbiz.de/10013236279
Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary policy after the shift of Japan from a fixed to a...
Persistent link: https://www.econbiz.de/10013316946
For the academic audience, this paper presents the outcome of a well-identified, large change in the monetary policy rule from the lens of a standard New Keynesian model and asks whether the model properly captures the effects. For policymakers, it presents a cautionary tale of the dismal...
Persistent link: https://www.econbiz.de/10014083478
export experience in a market are more likely to source service inputs from there. We rationalize this fact in a model where … firms are initially uncertain about how successful they are as exporters, but learn their export profitability as they keep … they become sufficiently confident about their export prospects, i.e., once they acquire enough export experience. More …
Persistent link: https://www.econbiz.de/10013224075
The transition into non-traditional export activities attracts important policy and academic attention. Using … international trade data, we explore how alternative linkages relate to the take-off and acceleration of export industries … labor. Technology has a predictive power depending on the specification used. We consistently find, however, that export …
Persistent link: https://www.econbiz.de/10012892161
The exceptional export performance of foreign-owned firms is a well-established stylized fact, but the underlying …
Persistent link: https://www.econbiz.de/10013251264
Customs data reveal heterogeneity and granularity of relationships among buyers and sellers. A key insight is how more exports to a destination break down into more firms selling there and more buyers per exporter. We develop a quantitative general equilibrium model of firm-to-firm matching...
Persistent link: https://www.econbiz.de/10013306035
information on the export and import value by firm, country, product and year for the period 2011-2019. Problems arising from the …
Persistent link: https://www.econbiz.de/10014347018
significant increase in services imports (2002-2012). We use world service export supply shocks, which we allocate to firms based …
Persistent link: https://www.econbiz.de/10012861415